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Moldova’s Domestic Debt Hits Record 52 Billion Lei as IMF Funding Stalls

Opposition figures warn of financing gaps that could strain social spending, risking currency stress.

Overview

  • Internal government debt reached 52 billion lei (about $3.1 billion) in December, rising by 8 billion lei in 2025 after a 2.5 billion lei jump in the final month.
  • Finance Ministry data showed 49.6 billion lei for January–November, with the 2021–2025 increase totaling 18.7 billion lei, or 56.2%.
  • Economist Vladimir Golovatyuk links the debt surge to weak economic performance and says spending would have fallen nearly 10% in 2025 without new borrowing, threatening salaries, pensions and transfers.
  • Former officials say Moldova did not receive the IMF’s final tranche of roughly $170 million after the program expired in October 2025, intensifying concerns over near‑term funding.
  • Opposition leader Irina Vlah cautions that 2026 could bring currency‑market turmoil, faster inflation, lower revenues and weaker GDP, as RAN research projects global sovereign debt exceeding 100% of world GDP by 2029.